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Stocks to Watch: Tesla, Verizon, Apple

NEW YORK -- Tesla Motors is making the Model S electric car available through a special financing program.

Partnering with Wells Fargo and U.S. Bank, Tesla said it has created a new kind of financing product "that combines the surety and comfort of ownership with all the advantages of a traditional lease."

Wells Fargo and US Bank have agreed to put down 10% financing of the purchase price of the Model S with the 10% payment covered by state and federal tax credits. Customers will still have to put down the down payment, but the financing is cheap, with an interest rate of less than 3%, said CEO Elon Musk.

"This announcement is about improving affordability and giving people peace of mind," Musk said. "I do expect that demand will respond accordingly." Musk added that he expects at least half of Tesla's customers, maybe more, will choose this option.

Pfizer, Novartis and Abbott Laboratories are bidding for Brazil's Ache Laboratorios Farmaceuticos in an auction that may value the company at more than $5 billion, people familiar with the matter told Reuters.

Ache ranks fourth in terms of overall Brazilian drug sales but leads in prescription medicines, according to Reuters.

The next iPhone from Apple could be launched this summer, according to The Wall Street Journal.

Apple plans to begin producing a refreshed iPhone similar in size and shape to its current one within the next three months, the report said.

Apple also is working on a cheaper iPhone model, the newspaper reported Tuesday.